Ssy Group Limited · HKEX:2005
Ssy — FY2024 Earnings Presentation
60 slides from Ssy's earnings presentation, Mar 28, 2025
Slide 1: 2024 Annual Results & Roadshow material
2024 Annual Results & Roadshow material Updated on 28 March 2025 Copyright ® 2022 SSY Group Limited. All rights reserved.
Slide 2: Disclaimer
Disclaimer The presentation is prepared by SSY Group Limited (the “Company”) and is solely for the purpose of corporate communication and general reference only. The presentation is not intended as an offer to sell, or to solicit an offer to buy or to form an basis of investment decision for any cla
Slide 3: Business Profile, Competitive Advantages, R&D Prospects, Development Strategies
PART 01 PART 02 PART 03 PART 04 Business Competitive R&D Status and Development Profile Advantages Prospects Strategies SSY Group Limited • 3
Slide 4: Business Profile
PART 01 Business Profile ➢ Financial Highlights ➢ Revenue Overview ➢ Shareholding & ➢ R&D Overview Group Structure
Slide 5: Financial Highlights (2024)
Financial Highlights (2024) Increase/ （HK$'000） 2024 2023 (Decrease) Revenue 5,773,251 6,463,009 (10.7%) Gross Profit 2,908,262 3,619,639 (19.7%) Gross Profit Margin 50.4% 56.0% (5.6%pt) EBITDA 1,811,186 2,064,413 (12.3%) EBITDA Margin 31.4% 31.9% (0.5%pt) Net Profit 1,061,150 1,318,616 (19.5%) Net
Slide 6: Financial Highlights (2024) (continued)
Financial Highlights (2024)(continued) Increase/ （HK$'000） 31 December 2024 31 December 2023 (Decrease) Cash and Cash Equivalent 1,257,702 1,615,208 (357,506) Bank Borrowings 3,635,931 3,368,141 267,790 Net Asset Value 7,535,650 7,268,692 266,958 Gearing Ratio 24.8% 20.2% 4.6%pt Current Ratio 2.78 2
Slide 7: Shareholding & Group Structure
Shareholding & Group Structure Updated as at 28 March 2025 Sichuan Kelun China Pharmaceutical & UBS Others No. of issued shares : Pharmaceutical Mr. Qu Jiguang 2,953,913,385 21.29% 38.81% 8.99% 30.92% Since January 2024, SSY have repurchased 15.13 million shares SSY Group Limited (Stock Code: 2005.H
Slide 8: Revenue Overview (2024)
Revenue Overview (2024) 2024 2023 By Products Revenue % of Total Revenue % of Total (HK$’000) Revenue (HK$’000) Revenue I.V. Infusion 3,734,689 64.6% 4,040,743 62.5% Ampoule Injections 500,950 8.7% 826,103 12.8% Bulk Pharmaceuticals 784,583 13.6% 888,867 13.8% Oral Preparations 501,695 8.7% 478,195
Slide 9: Revenue Breakdown by Products (2024)
Revenue Breakdown by Products (2024) 集团结构 产品销售结构（2021年一季度） Oral Preparations, Medical Materials and other products 13.1% 石药集团有限公司(股票代码:2005.HK) Non-PVC Soft Bag 30.3% Bulk Pharmaceuticals 大输液、安瓿小水针、 13.6% 口服制剂等 Upright Soft Bag Ampoule 17.5% 8.7% Glass Bottle PP Plastic Bottle 药用包材 3.1% 化工原料(甲胺) 13.
Slide 10: I.V. Infusion
I.V. Infusion Sales volume increase, Upright soft bag and Key products continue growth trend in volume In 2024, sales volume of infusion solution reached 2,036 million bottles (bags), representing an increase of 6.7% y-o-y, revenue reached HK$3,735 million, representing a decrease of 7.6% y-o-y (RMB
Slide 11: Revenue Overview - I.V. Infusion (2024)
Revenue Overview - I.V. Infusion (2024) 大输液销售概览 I.V. Infusion – 2024 By Packaging Revenue Average Selling % of IV Price (ASP) GP% (HK$’000) Revenue (HK$) Non-PVC Soft Bag 1,751,834 46.9% 3.16 53.7% Upright Soft Bag 1,011,301 27.1% 1.49 67.9% PP Plastic Bottle 792,329 21.2% 1.08 43.0% Glass Bottle 17
Slide 12: Revenue Overview - I.V. Infusion (2024)
Revenue Overview - I.V. Infusion (2024) I.V. Infusion – 2024 By Pharmaceutical Average Selling Products Revenue % of IV Price (ASP) GP% (HK$’000) Revenue (HK$) Basic Infusions 2,276,278 61.0% 1.65 55.2% Nutrition Infusions 557,906 14.9% 1.48 51.8% Therapeutical Infusions 900,505 24.1% 3.21 52.3% Tot
Slide 13: Ampoule Injections
Ampoule Injections Increasingly rich in varieties; Production gradually scales up In 2024, sales volume reached 313 million, increased by 1.3% y-o-y; revenue accounted for HK$501 million, decreased by 39.4% y-o-y (RMB457 million, decreased by 38.6% y-o-y) mainly due to the impact of Bromhexine Hydro
Slide 14: Oral Preparations
Oral Preparations Product range continues to expand with deeper integration of bulk pharmaceuticals and preparations; further enhancing production and sales In 2024, revenue accounted for HK$502 million, increased by 4.9% y-o-y (RMB458 million, increased by 6.2% y-o-y); contributed for 8.7% of total
Slide 15: Bulk Pharmaceuticals
Bulk Pharmaceuticals Sales volume of caffeine increased with stable price; steady growth in azithromycin revenue In 2024, revenue accounted for HK$785 million, decreased by 11.7% y-o-y (RMB716million, decreased by 10.6% y-o-y ). Caffeine : sales volume 5,478 tons, increased by 44% y-o-y, unit price
Slide 16: Medical Materials & Other Products
Medical Materials & Other Products Steady improvement; new products as focus; expansion in export to overseas In 2024, revenue of external sales accounted for HK$188 million, increased by 16.4% y-o-y (RMB172 million, increased by 17.8% y-o-y), benefit from increased market penetration and coverage L
Slide 17: Foreign exports
Foreign exports Preparation exports growth stable In 2024, export of infusion solution: volume of 118 million bottles (bags), growth of 11.3% y-o-y, revenue of HK$178 million, decreased by 9% y-o-y Developed 28 new customers Completed 47 product registrations in 19 countries, obtained 435 product re
Slide 18: Research and Development
Research and Development Up to 31 December 2024, a total of 112 production approvals (including national supplementary application approvals and clinical approvals) were obtained, increased by 43% y-o-y. including 88 for preparations and 24 for bulk pharmaceuticals. Research and development efficien
Slide 19: Product passed/regarded passing consistency evaluation
Product passed/regarded passing consistency evaluation (113 Types, 149 Specifications) No. Drug Name Specification Approval Date Approval in PRC Treatment Category 1 Fluconazole Tablets 150mg 28/04/2019 The First Systemic anti-infectives 2 Doxofylline Injection 10ml:0.1g 21/01/2020 The First Respira
Slide 20: Product passed/regarded passing consistency evaluation
Product passed/regarded passing consistency evaluation (113 Types, 149 Specifications) No. Drug Name Specification Approval Date Approval in PRC Treatment Category 33 Rosuvastatin Calcium Tablets 10mg 17/08/2020 Cardiovascular System 34 Rosuvastatin Calcium Tablets 5mg 09/06/2022 Cardiovascular Syst
Slide 21: Product passed/regarded passing consistency evaluation
Product passed/regarded passing consistency evaluation (113 Types, 149 Specifications) No. Drug Name Specification Approval Date Approval in PRC Treatment Category 65 Tedizolid Phosphate Injection 200mg 26/05/2023 Systemic anti-infectives 66 Urapidil Hydrochloride Injection 5ml 29/05/2023 Cardiovasc
Slide 22: Product passed/regarded passing consistency evaluation
Product passed/regarded passing consistency evaluation (113 Types, 149 Specifications) No. Drug Name Specification Approval Date Approval in PRC Treatment Category 97 Propofol Medium/Long Chain Fat Emulsion Injection 20ml 06/02/2024 Nervous system 98 Propofol Medium/Long Chain Fat Emulsion Injection
Slide 23: Product passed/regarded passing consistency evaluation
Product passed/regarded passing consistency evaluation (113 Types, 149 Specifications) No. Drug Name Specification Approval Date Approval in PRC Treatment Category 129 Fat emulsion (10%) amino acid (15%) glucose (20%) injection 1500ml 30/07/2024 Second Blood and hematopoietic organs 130 Entacapone,
Slide 24: Products considered as catalyst of growth
Products considered as catalyst of growth (42 Types, 55 Specifications) Catalyst products It is considered to have room for high growth as it meets the following conditions at the same time: Bulk pharmaceuticals + preparation integration (Self-bulk pharmaceuticals supply) & Five or more companies pa
Slide 25: Products considered as catalyst
Products considered as catalyst (42 Types, 55 Specifications) No. Drug Name Specification Approval Date Approval in PRC Treatment Category 19 Moxifloxacin Hydrochloride Tablets 0.4g 07/01/2022 Systemic anti-infectives 20 Bromhexine Hydrochloride Injection 2ml 23/03/2021 Second Respiratory system 21
Slide 26: Products considered as catalyst
Products considered as catalyst (42 Types, 55 Specifications) No. Drug Name Specification Approval Date Approval in PRC Treatment Category 43 Rasagiline Mesylate Tablets 1mg 15/05/2024 Nervous system 44 Ondansetron Hydrochloride Injection 4ml:8mg 21/05/2024 Digestive system and metabolic drugs 45 On
Slide 27: Competitive Advantages
PART 02 Competitive Advantages
Slide 28: Diversified and Competitive Advantages
Competitive Advantages Bulk Pharmaceuticals, Medical . Intelligent Manufacturing I.V. Materials, Preparations and Infusion Production Lines, Biotech - Diversified and Largest Production Capacity on Coordinated Development Single Factory Basis Numerous Specifications,. Complete Numerous Prize Recogni
Slide 29: Diversified and Coordinated Development
Bulk Pharmaceuticals, Medical Materials, Preparations and Biotech - Diversified and Coordinated Development Production Bases: 2 preparation, 2 bulk pharmaceutical, 1 chemical and 1 medical material, forming synergy and whole-industry-chain by preparations + bulk pharmaceuticals + medical materials +
Slide 30: Pharmaceutical R&D Institute
Diversified and Coordinated Development - Pharmaceutical R&D Institute It covers an area of 85 acres and has advanced equipment such as high-efficiency/ultra-high- performance liquid chromatographs, gas chromatographs, Fourier infrared spectrometers, and the leading hardware level in the country. I
Slide 31: Preparations Production Base
Diversified and Coordinated Development – Preparations Production Base Shijiazhuang No.4 Pharmaceutical Major products: Non-PVC Soft Bag IV, Upright Soft Bag IV, PP Plastic Bottle IV, Glass Bottle IV, PP Ampoule Injections, Lyophilized powder injection, Tablets, Capsule and Granules SSY Group Limite
Slide 32: Bulk Pharmaceuticals Production Base
Diversified and Coordinated Development – Bulk Pharmaceuticals Production Base Hebei Guangxiang Pharmaceutical Cangzhou Lingang Youyi Chemical Major products: Caffeine, Major products: Methylamine (API for Theophylline, Aminophylline Series, caffeine and other pharmaceutical/ Metronidazole, Ornidazo
Slide 33: Specialised Bulk Pharmaceuticals
Specialised Bulk Pharmaceuticals Bulk Pharmaceuticals with status A owned by Hebei Guangxiang Pharmaceutical (37) Serial Registration No. Drug Name Status 1 Y20200001269 Epalrestat A 2 Y20190007857 Aminophylline A 3 Y20190007856 Theophylline A 4 Y20190006345 Niacin A 5 Y20190002961 Benzoyl metronida
Slide 34: Specialised Bulk Pharmaceuticals
Specialised Bulk Pharmaceuticals Bulk Pharmaceuticals with status A owned by Hebei Guangxiang Pharmaceutical (37) Serial Registration No. Drug Name Status 25 Y20220000118 Levalbuterol Hydrochloride A 26 Y20220000116 Vortioxetine Hydrobromide A 27 Y20220000360 Isoproterenol Hydrochloride A 28 Y202200
Slide 35: Specialised Bulk Pharmaceuticals
Specialised Bulk Pharmaceuticals Bulk Pharmaceuticals with status A owned by Hebei Guolong Pharmaceutical (30) Serial Registration No. Drug Name Status 1 Y20200001123 Cinacalcet Hydrochloride A 2 Y20200000767 Ipratropium Bromide A 3 Y20200000466 Dexmedetomidine Hydrochloride A 4 Y20190001004 Blonans
Slide 36: Specialised Bulk Pharmaceuticals
Specialised Bulk Pharmaceuticals Bulk Pharmaceuticals with status A owned by Hebei Guolong Pharmaceutical (30) Serial Registration No. Drug Name Status 22 Y20220000426 Etomidate A 23 Y20220000427 Trelagliptin Succinate A 24 Y20220000910 Doxazosin Mesylate A 25 Y20220001251 Betahistine Mesylate A 26
Slide 37: Medical Materials Production Base
Diversified and Coordinated Development – Medical Materials Production Base Jiangsu Best New Medical Material Major products: Bioprocessing film series, Multi-layer co-extrusion, infusion films, Rubber stopper series, Gasket series SSY Group Limited • 37
Slide 38: Biotechnology and product development
Diversified and Coordinated Development – Biotechnology and product development Hebei Hanlin Technology Major products: In vitro diagnostic reagents, Cosmetic Peptide, Medical Ultrasound Coupling Agent and Medical Radiation Protection Spray SSY Group Limited • 38
Slide 39: Numerous Varieties, Complete Dosage Form, Wide coverage
Numerous Varieties, Complete Dosage Form, Wide coverage No. of Production approvals: 462 No. of Preparations approved: 351 including including 351 Preparations, 69 Bulk Pharmaceuticals, 206 in Essential Drug List, 156 passed Consistency Evaluation, 17 in National Centralised Procurement 42 Medical M
Slide 40: Numerous Varieties, Complete Dosage Form, Wide coverage
Numerous Varieties, Complete Dosage Form, Wide coverage Oral preparations I.V. Infusion • National Centralised Procurement: • National Centralised Procurement: Ampoule Injections & Lyophilized powder Prucalopride Succinate Tablets, Cefdinir Fluconazole Sodium Chloride Injection, • National Centralis
Slide 41: Market share increases for products in National Centralised Procurement
Market share increases for products in National Centralised Procurement National Centralised Change in market share* Procurement batch Products selected in tender (Date of Result) 2020_ 2021_ 2022_ 2023_ Prucalopride Succinate tablet (Oral) 1.09% 6.59% 9.44% 11.17% 3rd batch（Aug 2020） Cefdinir capsu
Slide 42: Market share increases for products in National Centralised Procurement
Market share increases for products in National Centralised Procurement Expect 16 products to submit for 11th batch National Centralised Change in market share* Procurement batch Products selected in tender (Date of Result) 2020_ 2021_ 2022_ 2023_ Terbutaline Sulphate Injection (Ampoule) - - - 0.04%
Slide 43: I.V. Production Capacity Expansion
I.V. Infusion Production Line Intelligent Manufacturing, Largest Production Capacity on Single Factory Basis in PRC I.V. Production Capacity Expansion No.4 Pharma Year Increase / Year Increase / Year Increase / Year Increase / Year 2019 % change 2021 % change 2022 % change 2023 % change 2024 Non-PVC
Slide 44: Awards and recognitions
Awards and recognitions ✓ Ranked 10 in Chemical Drugs R&D Capabilities in China in 2023 ✓ China pharmaceutical independent innovation pioneer enterprise ✓ China innovative pharmaceutical companies ✓ National-level manufacturing individual champion enterprise ✓ Selected in the 2022 list of outstandin
Slide 45: R&D Status and Prospects
PART 03 R&D Status and Prospects ➢ Strategy in generic drugs R&D ➢ Products for approval application ➢ Specialised drug platform ➢ Key innovative drug R&D projects ➢ Products awaiting approval ➢ Strong external R&D support
Slide 46: Strategy in generic drugs R&D
Strategy in generic drugs R&D Bulk pharmaceuticals Solid preparations ➢ Products requires difficult process/ special process ➢ Focus on products with large market demand and products, self-owned patented technology products urgent clinical needs ➢ Forming Product series ➢ Bulk pharmaceuticals + prep
Slide 47: Strategy in generic drugs R&D (Key therapeutic fields)
Strategy in generic drugs R&D (Key therapeutic fields) Respiratory system: injections/inhalation/oral Cardiovascular system: oral/injection Stimulates lysosomal release from mucus-secreting cells Hypertension (single prescription, compound (Bromhexine); Phosphodiesterase (PDE) Inhibitors preparation
Slide 48: Bulk Pharmaceuticals under review (Hebei Guangxiang)
Bulk Pharmaceuticals under review (Hebei Guangxiang) No. Registration No. Drug Name Status Expected approval 1 Y20230001037 Benidipine Hydrochloride I 2025 2 Y20230001109 Benidipine Hydrochloride I 2025 3 Y20230001169 Nimodipine I 2025 4 Y20230001287 Morpholinazole I 2025 5 Y20230001288 Allopurinol
Slide 49: Bulk Pharmaceuticals under review (Hebei Guolong)
Bulk Pharmaceuticals under review (Hebei Guolong) No. Registration No. Drug Name Status Expected approval 1 Y20230000011 Mexartan Potassium I 2025 2 Y20210000676 Safinamide Mesylate I 2025 3 Y20230000361 Lactose Monohydrate I 2025 4 Y20230000948 L-Lysine I 2025 5 Y20230001087 Piribedil I 2025 6 Y202
Slide 50: Type 3 Preparations under review
Type 3 Preparations under review Expected to be approved by the end of 2025 No. Acceptance No. Drug Name Specification 1 CYHS2301676 Composite Potassium Hydrogen Phosphate Injection 5ml 2 CYHS2301442 Epinephrine Hydrochloride Injection 1ml:1mg 3 CYHS2301989 Sodium Bicarbonate Injection 10ml:0.84g 4
Slide 51: Type 3 Preparations under review
Type 3 Preparations under review Expected to be approved by the end of 2025 No. Acceptance No. Drug Name Specification 24 CYHS2400827 Levosalbutamol Hydrochloride Nebulizer Inhalation Solution 3ml:0.63mg 25 CYHS2400900 Compound Sodium Acetate Ringer's Injection 500ml 26 CYHS2401131 Labetalol Hydroch
Slide 52: Type 4 Preparations under review
Type 4 Preparations under review Expected to be approved by the end of 2025 No. Acceptance No. Drug Name Specification 1 CYHS2301960 Vonoprazan Fumarate Tablets 10mg 2 CYHS2301959 Vonoprazan Fumarate Tablets 20mg 3 CYHS2302754 Vortioxetine Hydrobromide Tablets 5mg 4 CYHS2400007 Tranexamic acid table
Slide 53: Consistency evaluation under review
Consistency evaluation under review Expected to be approved by the end of 2025 No. Acceptance No. Drug Name Specification 1 CYHB2450365 Low calcium peritoneal dialysis solution (lactate-G4.25%) 2000ml 2 CYHB2550001 Lincomycin Hydrochloride Injection 2ml:0.6g 3 CYHB2450508 Vitamin B6 Injection 1ml:10
Slide 54: Production approvals to submit in 2025
Production approvals to submit in 2025 即将上报的产品（2022年） (updated as of 5 March 2025) To submit soon ◆ 25 types of bulk pharmaceuticals ◆ 43 types of liquid preparations with 49 specifications ◆ 35 types of oral preparations with 42 specifications SSYSSY Group Limited Group • 54 Limited • 54
Slide 55: Major projects of innovative drug development
Major projects of innovative drug development 创新药的研发策略 Type I New Drug （a）SYN-045: Anti-pulmonary (lung) hypertension drug, Phase I clinical trial is underway and is currently in good progress （b）ADN-9: Anti-hepatic (liver) fibrosis type I new drug, expected to apply for Phase I clinical trial in 20
Slide 56: Strong External R&D and Industrialization Support/Cooperation
Strong External R&D and Industrialization Support/Cooperation ◆ Collaborative R&D of ◆ Undergraduate and Chinese Shenyang postgraduate Type I New Drugs Pharmaceutical Pharmaceutical internship base ◆ Technological R&D of University University ◆ Professional master's training Type II New Drugs ◆ Coll
Slide 57: Development Strategies
PART 04 Development Strategies ➢ Fields for development ➢ Production chains ➢ Bioprocessing films ➢ Advanced preparations ➢ Intelligent production
Slide 58: Development Strategies
Fields for development Generic Drugs:Increase R&D continuously; focus on high-end bulk drugs; integrate specialized bulk drug + preparations Innovative Drugs:Clinical trials and commercialization to proceed on schedule；plan on drug development for children and elderly Bioprocessing films Production
Slide 59: Prospects for development
Prospects for development IV: Further expand market share of basic therapeutic infusion in hospitals of top tiers, focus on increasing the sales proportion of key infusion products, increasing efforts to develop primary community medical institutions Ampoule: Optimize marketing channels and explore
Slide 60: Company Contacts
Company Contacts Direct line: +852-2688 0869 Meng Guo +86-13933073928 （Executive Director） mengguo@ssygroup.com.hk Henry Chow +852-9721 2670 （Executive Director & CFO） henrychow@ssygroup.com.hk Isabella Wang +86-13801231199 （Wechat） （Deputy General Manager isabellawang@ssygroup.com.hk – Investor Rel